Accounting: Principles of Financial Accounting

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  • Course Overview & Week 1: Introduction to Accounting - The Balance Sheet
    • Welcome! Before you start today's videos, please have a look at the syllabus. In this first session, I'll give you an overview of what accounting is all about and why it's important to have a basic proficiency in this "language." In addition, I'll introduce one of the most important financial reports - the balance sheet - and a practical real-world case so you can put theory into practice. Objectives: To gain insight into the essence of accounting and become familiar with the balance sheet and its purpose.
  • Week 2: The Income Statement
    • Now that you are familiar with the balance sheet, in week two we'll learn how to account for a variety of transactions. In addition, I'll introduce you to another key financial report: the income statement. Course objectives: To be able to recognize a broader range of transactions on the balance sheet and to become familiar with the income statement.
  • Week 3: The Cash Flow Statement
    • Now that you have a good grasp of the balance sheet and income statement, I'll help you master how to recognize the transactions we went over in week two. I'll also introduce a third financial report - the cash flow statement - and discuss liquidity. Course objectives: To understand the difference between liquidity and profitability, become familiar with T-accounts and gain insight into the purpose of the cash flow report.
  • Week 4: Accrual Accounting
    • By using accrual accounting we can measure performance when a financial transaction takes place, even if no cash has actually changed hands. In this final session, we'll discuss the difference between accrual and cash accounting and also read and interpret a real enterprise's financial statements. Course objectives: By the end of the session, you will be able to handle numerous transactions for the purposes of financial reporting, and understand the advantages of accrual accounting.